Nova Minerals Ltd (ASX:NVA) Quarterly Activities Report

Melbourne, Oct 30, 2018 AEST (ABN Newswire) - Nova Minerals Limited (ASX:NVA) (FRA:QM3) (Nova or Company) is an Australian company with interests in a portfolio of mineral projects at exploration stage with focus on North America (Manitoba, Canada and Alaska, USA) and one joint venture project located in Australia that are prospective for lithium, gold, nickel, cobalt and other precious metals, base metals and REE's.

NOVA TO UNLOCK THE VALUE OF ITS LITHIUM PROJECTS

On 25 July 2018, the Company announced that they have resolved to pursue a strategy of listing its wholly owned subsidiary Snow Lake Resources Ltd. (Snow Lake) on the TSX Venture Exchange ("TSX-V"). Upon restructure, Snow Lake through its subsidiaries to have the right to earn 80% of the Thompson Brothers Lithium Project and 100% owned adjoining Crowduck Lithium Project in Canada.

Following meetings with North American investment banks, stock brokers and TSX.V listed entities during a prior 6 month period, Nova has received numerous enquiries to invest in or acquire the project, with the scale, near term development and quality of Thompson Brothers Lithium Project being of particular interest. While some of those market participants can invest on the ASX, with the majority predominantly focusing on the North American markets, and have actively encouraged the Company to seek a listing on the TSX-V particularly on a valuation metric compared to our Canadian listed peers.

This very strong market interest will best allow the progression of the Thompson Brothers Lithium Project to resource expansion, through a Preliminary Economic Assessment (PEA), further resource and exploration drilling, followed by completion of a Pre-Feasibility Study (PFS), and ultimately into production with no dilution to Nova's capital structure while benefiting on the project's success.

With a clear development pathway, Nova believes that Snow Lake Resources Ltd. will develop into an independent and viable lithium supplier for the emerging lithium battery market that is largely driven by electric vehicles, home battery storage, cell phones, tablets and other consumer products. Nova intends to maintain exposure to the Lithium assets through a retained majority equity interest of approximately 77% of Snow Lake Resources Ltd. post IPO on an undiluted basis. The spin-off will be subject to the approval of shareholders of the Company.

The Company engaged a private merchant bank located in Toronto, Canada, Foundation Markets to lead the process of listing Snow Lake onto the TSX-V.

The company plans to create shareholder value through two-pronged strategy:

- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.